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Published on August 25, 2007

He said an extension would cost Bt3 million a day in interest for the SRT. He said the agency should, therefore, open a new bid for the project.

Transport Minister Theera Haocharoen and his deputy Sansern Wongcha-um have given the green light for a 500-day extension, as the contract expired on August 5. They were concerned that without the extended period, the project could end up being stalled like the Hopewell project.

The project is 67 per cent complete and should be operational in 2009, rather than late this year as originally scheduled.

Egat candidates

Four deputy governors of the Electricity Generating Authority of Thailand (Egat) are among the seven candidates to become the agency's new governor, according to a source at the Energy Ministry. The new governor will replace Kraisri Karnasuta, whose term ends on November 11.

The four deputy governors are Apichart Diloksophon, Vinit Tangnoi, Sombat Santijaree and Ratanapong Jongdamgerng. The three outsiders are an executive of Thanachart Bank, a former executive of Toyota Motor Thailand and an executive of the Botanical Garden Organisation.

"The selection will be complete by September," the source said.

New govt bonds

The Finance Ministry yesterday announced auctions of Bt44.73 billion of government bonds in the next two months.

Bt24.73 billion will be three-year bonds due in 2010 and Bt20 billion 12-year bonds due in 2019, the ministry's Public Debt Management Office said.

Bt24 billion will be auctioned in September, the remainder in October.

The whole amount of Bt44.73 billion will be issued to refinance savings bonds previously issued by the ministry to shoulder losses by the Financial Institutions Development Fund.

South sluggish

Pattani Chamber of Commerce chairman Sirichai Piticharoen said yesterday that the overall economy in the South was still sluggish.

He said the manufacturing sector was still growing well, but the fishery industry had been badly hit by oil prices and labour problems. The tourism and service sector is also sluggish due to a reduction in travel and the unrest in the deep South.